European Stocks Rise for Third Day as Oil Prices Fall
European shares rose for a third day as lower crude prices boosted travel stocks. Markets now await interest rate decisions from the Fed and the ECB today.
European shares climbed on Wednesday, extending a recent rebound as a decline in crude oil prices improved market sentiment. The pan-European STOXX 600 index rose 0.5% to 605.69 points, marking its third consecutive session of gains and its longest winning streak in a month. Investors are now shifting their focus toward the upcoming interest-rate decision from the United States Federal Reserve.
Global markets found relief as oil prices retreated from recent highs, even as geopolitical tensions intensified following events involving Iran and Israel. European equities remain particularly sensitive to energy price fluctuations due to the region's heavy reliance on imported fuel, which has contributed to a 4.4% decline in the benchmark over the last three weeks.
